Idle Now Live on Enzyme Carving Out The Path For Meta-Yield Strategies
Today, we’re excited to announce that Idle’s yield strategies are now available on Enzyme. This opens up more exciting possibilities for Vault Managers on Enzyme Vault.
What are Idle Strategies?
Idle strategies enable people to auto-optimise for the best yield in a particular asset. There are two types of Idle strategies available today;
1.Best Yield Strategies
These strategies allow users to optimize interest rates profitably and seamlessly without having to manually move funds across different lending protocols to chase returns. As the name suggests, these strategies will always chase the best yield returns on the asset in question. This means that managers can benefit from continuous allocations. Managers pay a performance fee to Idle for taking care of the rebalancing and for handling the execution costs. For more information on how this works, documentation can be found here.
The best yield strategies now available on Enzyme include IdleDaiYield, IdleSUSDYield, IdleUSDCYield, IdleUSDTYield, IdleWBTCYield, IdleWETHYield
2.Risk Adjusted Strategies
These strategies provide a way to earn the best interest rates at the lowest risk level. The algorithm has been developed by Idle using DeFiScore model to take a risk-based approach on the various protocols and construct the strategy accordingly. More information on how this is done can be found here.
The risk adjusted strategies now available on Enzyme include IdleDaiSafe, IdleUSDCSafe, IdleUSDTSafe,
But there’s more…
A nice feature about Idle strategies is that you can earn multiple governance tokens from various liquidity mining programs and downstream lending protocols. This always involves $IDLE tokens, and depending on how the various strategies are allocating at any one time you might also be eligible for $COMP and $stkAAVE tokens.
Meta-Yield Farming Strategies on Enzyme
Compounding rewards can have the effect of turbo-charging rewards as products like Yearn Finance have demonstrated. However, building strategies is not easy and typically they’re very expensive to run because of high gas costs. So what if we told you that Enzyme now provides you with the tools to build your own Meta-Yield Strategy in a matter of minutes. It enables you to solve the cost problem by underwriting them in return for a performance fee. In this scenario, everyone’s a winner as long as the strategy is profitable and gets some scale.
Enzyme’s Tool Kit for Meta-Yield Farming
In order to make these kinds of meta-strategies easier on Enzyme, we’re providing users with some brand new tools;
Monitoring your rewards from your Vault
At any point you can go to the Rewards section on your Vault and track how many tokens have accrued as part of your accrued rewards from depositing into one of the IDLE strategies.
The 1-click harvest function
If you want to run your own farming strategy through your Vault you can now sell your accrued tokens and reinvest them into your Idle strategy in one click (aka harvest your rewards).
The 1-click claim & swap function
If you don’t want to hold any of your reward tokens, claim them and swap them away for a token of your choice with one click.
Get Started
Getting started is easy, go to your Vault Manager Page and check out the new Yield tab. From there, deposit into Idle Strategies and check out the new Unclaimed Rewards Sections which help you build Strategies. If you don’t already have an Enzyme Vault and want one, you can check out our user docs to help you get started.
Future directions
If you’re interested in building meta-strategies on Enzyme and want to talk to us about your needs, feel free to reach out to us on info@avantgarde.finance to discuss your needs. We are looking to build infrastructure and tooling for tomorrow’s DeFi Blackrocks!
Note: At the moment, Vault managers incur gas costs which they can get back through charging fees smartly. However, in a future release we will be making it possible to expense gas fees back to the Vault.
Learn About Enzyme
Visit website and go to app here
Get started with User Docs
Read about our current roadmap; Sulu release
Latest release info on v2
Enzyme medium page
